Brazilian state oil and gas giant Petrobras has committed to developing wind and solar energy in its latest strategic plan.
Launching its 2040 Strategic Plan and 2019-2023 Business and Management Plan on 5 December 2018, the company said it recognised that demand for renewable energy was growing and it wanted to become an integrated energy company.
The Strategic Plan outlined its vision as an integrated energy company, aligned with the needs of society and “increasing diversification in energy sources and uses.”
Petrobras said its focus on oil and gas remained important but that it would “give more room for other energy sources” and had adjusted its strategy in view of the transition to a low-carbon economy.
The company confirmed that it intended to operate in a “profitable renewable energy businesses, with a focus on wind and solar energy.” It also confirmed a commitment to the decarbonisation of processes and products.
In a presentation about the strategy, the company said its growing investment in renewable energy would take the form of participation in auctions for solar power, gradual entry into the distributed solar generation market and offshore wind projects. Its efforts in these areas will include partnerships with Total and Equinor.
In September 2018, the state-owned oil company and Norwegian state-owned Equinor signed a memorandum of understanding to explore opportunities in the offshore wind sector. Together the companies plan to evaluate a joint business in offshore wind energy in Brazil.
The Offshore Wind Journal Conference in London on 5 February 2019 will address key issues including global market developments, increasing turbine sizes, floating offshore wind and industry regulations.